Oppenheimer Reiterates an 'Outperform' on Landstar System (LSTR); Adjusting Numbers on Chopiness
Get Alerts LSTR Hot Sheet
Price: $171.10 --0%
Rating Summary:
2 Buy, 22 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
Rating Summary:
2 Buy, 22 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
Join SI Premium – FREE
Oppenheimer reiterates an 'Outperform' on Landstar System (NASDAQ: LSTR) price target of $60.00.
Analyst, Scott Schneeberger, said, "Consistent with past practice, LSTR held its 3Q12 mid-quarter guidance call at 2pm yesterday. It tempered 3Q12 revenue/EPS guidance noting "choppiness" in volume growth during the first eight weeks of 3Q12, with some days +10% y/y and others flat y/y, while revenue/load has been flat y/y. While the final five weeks of 3Q are typically seasonally stronger than the first eight, LSTR viewed it prudent to reflect most recent trends. Prior 3Q12 revenue/EPS guidance updated to "mid-single digits" (meaning 3-7%)/$0.66-0.71 (3-11% y/y) from 7-10%/$0.71-0.75 (11-17% y/y), respectively. Believing the market had anticipated slight softening given recent macro headlines, the shares still ceded 4% in afternoon trading."
FY12 EPS estimate lowered from $2.72 to $2.64 and FY13 from $3.12 to $3.02.
For an analyst ratings summary and ratings history on Landstar System click here. For more ratings news on Landstar System click here.
Shares of Landstar System closed at $47.69 yesterday.
Analyst, Scott Schneeberger, said, "Consistent with past practice, LSTR held its 3Q12 mid-quarter guidance call at 2pm yesterday. It tempered 3Q12 revenue/EPS guidance noting "choppiness" in volume growth during the first eight weeks of 3Q12, with some days +10% y/y and others flat y/y, while revenue/load has been flat y/y. While the final five weeks of 3Q are typically seasonally stronger than the first eight, LSTR viewed it prudent to reflect most recent trends. Prior 3Q12 revenue/EPS guidance updated to "mid-single digits" (meaning 3-7%)/$0.66-0.71 (3-11% y/y) from 7-10%/$0.71-0.75 (11-17% y/y), respectively. Believing the market had anticipated slight softening given recent macro headlines, the shares still ceded 4% in afternoon trading."
FY12 EPS estimate lowered from $2.72 to $2.64 and FY13 from $3.12 to $3.02.
For an analyst ratings summary and ratings history on Landstar System click here. For more ratings news on Landstar System click here.
Shares of Landstar System closed at $47.69 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Intermediate Capital Group (ICP:LN) (ICGUF) PT Raised to GBP22.50 at Citi
- Atlas Copco AB (ATCOA:SS) (ATLKY) PT Raised to SEK150 at RBC Capital
- Lam Research (LRCX) PT Raised to $1,130 at B.Riley
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!